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Versions of s. 261(5)(d)

I-3.3 — Income Tax Act · 3 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

  1. 2017-12-14 to present available View Source
    the definition exchange rate in subsection 111(8) is, in respect of the taxpayer and the particular taxation year, and with such modifications as the context requires, to be read as follows:
    Full text

    the definition exchange rate in subsection 111(8) is, in respect of the taxpayer and the particular taxation year, and with such modifications as the context requires, to be read as follows:

  2. 2009-03-12 to 2017-12-14 View Source
    inthe determining,definition atexchange any timerate in thesubsection particular111(8) functional currency year, the amount (expressed in the taxpayer’s functional currency for the particular functional currency year) of the taxpayer’s undepreciated capital cost of depreciable property of a prescribed class, cumulative eligible capitalis, in respect of a business, cumulative Canadian exploration expense (within the meaning assigned by subsection 66.1(6)), cumulative Canadian development expense (within the meaning assigned by subsection 66.2(5)), cumulative foreign resource expense in respect of a country other than Canada (within the meaning assigned by subsection 66.21(1)) and cumulative Canadian oil and gas property expense (within the meaning assigned by subsection 66.4(5)), (each of which is referred to in this paragraph as a “pool amount”) each amount (determined in Canadian currency) that was added to or deducted from a particular pool amount of the taxpayer inand respectthe of aparticular taxation yearyear, ofand with such modifications as the taxpayercontext preceding the initial functional currency year of the taxpayer isrequires, to be convertedread toas the taxpayer’s functional currency for the particular functional currency year using the transitional exchange rate of the taxpayer;follows:
    Full text

    the definition exchange rate in subsection 111(8) is, in respect of the taxpayer and the particular taxation year, and with such modifications as the context requires, to be read as follows:

  3. 2007-12-14 to 2009-03-12 View Source

    in determining, at any time in the particular functional currency year, the amount (expressed in the taxpayer’s functional currency for the particular functional currency year) of the taxpayer’s undepreciated capital cost of depreciable property of a prescribed class, cumulative eligible capital in respect of a business, cumulative Canadian exploration expense (within the meaning assigned by subsection 66.1(6)), cumulative Canadian development expense (within the meaning assigned by subsection 66.2(5)), cumulative foreign resource expense in respect of a country other than Canada (within the meaning assigned by subsection 66.21(1)) and cumulative Canadian oil and gas property expense (within the meaning assigned by subsection 66.4(5)), (each of which is referred to in this paragraph as a “pool amount”) each amount (determined in Canadian currency) that was added to or deducted from a particular pool amount of the taxpayer in respect of a taxation year of the taxpayer preceding the initial functional currency year of the taxpayer is to be converted to the taxpayer’s functional currency for the particular functional currency year using the transitional exchange rate of the taxpayer;